Edo Assembly passes N153.2 billion 2017 budget

Related News

The Edo State House of Assembly on Monday passed the state’s 2017 budget proposal of N153.18 billion.

Governor Godwin Obaseki of Edo had on December 19, 2016, presented a budget proposal of N150 billion to the Assembly for consideration and passage.

The budget, as presented by the governor, consists of N75.11 billion for capital expenditure, while the proposed recurrent expenditure stood at N74.9 billion.

The Assembly increased the appropriation bill with about N3 billion, representing 0.1 per cent increase.

Edo State Governor, Godwin Obaseki

The Chairman, Assembly Committee on Appropriation and Project Monitoring, Damian Lawani (APC, Etsako Central), said the budget reflected the needs of the people and was designed to consolidate and complete all ongoing projects.

During the consideration of the bill, N76.6 billion was allocated for capital expenditure, while N76.5 billion was allocated for re-current expenditure.

The breakdown of the proposal showed that N18.5 billion, N7.2 billion, N3.6 billion and N6.034billion were allocated for the recurrent expenditure of the administrative, economic, law and justice and social sectors, respectively.

Also, N5.68 billion, N47 billion and N1.84 billion and N22.09 were allocated for the capital expenditure for the administrative, economic, law and justice and social sectors, respectively.

The Assembly, after the consideration of the document with amendments, passed the bill.

The Speaker, Justin Okonoboh, directed that the clean copies of the bill be sent to the governor for his assent.

All rights reserved. This material and any other material on this platform may not be reproduced, published, broadcast, written or distributed in full or in part, without written permission from PREMIUM TIMES.